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JPMorgan Chase Bullish Moving Average Crossover Alert (JPM)

By Shiri Gupta

JPMorgan Chase (NYSE:JPM) shares have crossed bullishly above their 10-day moving average of $63.44 on a volume of 3.5 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, JPMorgan Chase share prices have been bracketed by a low of $50.07 and a high of $70.61 and are now at $63.63, 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of JPMorgan Chase on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.43. Since that recommendation, shares of JPMorgan Chase have risen 4.8%. We continue to monitor JPM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses JPMorgan Chase

Ticker(s): JPM